Adam L. Sisitsky
Member / Co-chair, Securities Litigation Practice
+1.617.348.1689
Adam is a highly experienced trial attorney with a broad range of complex commercial litigation capabilities. Business cases and securities litigation are a particular focus for Adam, who Co-chairs the firm's Securities Litigation Practice. Corporations and individuals with significant fiduciary responsibilities, including officers, directors, and accountants, rely on Adam’s counsel.
Adam's practice encompasses a wide range of matters focusing on business and securities litigation, internal investigations, and government enforcement actions. Adam represents corporations, officers, directors, accountants, and other individuals in SEC investigations and enforcement proceedings, as well as in civil litigation. He routinely counsels public and private companies and others in matters involving compliance issues, including matters arising under the Foreign Corrupt Practices Act (FCPA).
As part of the firm’s EB-5 practice working group, Adam also represents regional centers, issuers, and borrowers in connection with both routine and complex issues that arise in EB-5 transactions. He also counsels EB-5 regional centers and issuers in risk mitigation and policy development, as well as on FCPA issues in connection with the marketing of EB-5 investments outside the United States.
In 2001 to 2002, while on leave from the firm, Adam practiced as a Special Assistant District Attorney in the Middlesex County (MA) District Attorney’s Office. During that time, he prosecuted and tried numerous drug, assault, domestic violence, and motor vehicle cases in bench and jury sessions and argued bail hearings, motions to suppress, and probation violations and surrenders.
In addition to his litigation experience, Adam has published numerous articles on securities-related topics and co-authored the Securities Litigation chapter in the definitive Massachusetts Continuing Legal Education compilation, Business Torts of Massachusetts. He has also served as a trial advisor to the Harvard Law School Trial Advocacy Workshop.
During law school, he served as executive case and note editor of the New England Law Review. Adam was also a New England Scholar, and was twice a recipient of the Trustees' Academic Scholarship Award.
Adam also serves as a member of the Joint Bar Committee on Judicial Appointments, an independent and nonpartisan entity responsible for reviewing the qualifications of applicants for judicial appointment to all courts of the Commonwealth of Massachusetts.
Education
- New England Law (JD)
- Framingham State College (MA)
- American University (BS)
Experience
- Represented Apollo Global Management, LLC and its portfolio company, The Fresh Market, as coordinating litigation counsel in multiple merger objection suits arising from the acquisition of The Fresh Market in March of 2016 by certain Apollo affiliates. Following the acquisition, ten separate suits were filed in federal and state courts in Delaware and North Carolina. Mintz successfully negotiated the resolution of all ten complaints in the Delaware Chancery Court and federal district court in the Middle District of North Carolina.
- Trial counsel in S.D.N.Y. to former CFO of two-and-a-half billion-dollar company based in China, in a securities class action relating to the company's 2011 financial collapse. Having obtained an $880 million default judgment against China-based corporate defendants, Plaintiff's alleged that the CFO had acted recklessly and made misstatements about the company's financial health. Secured a favorable jury verdict and resulting settlement that required no monetary payment from the CFO.
- Represented a global pharmaceutical manufacturer in a highly publicized antitrust MDL class action antitrust litigation, which was the first alleged pharmaceutical “pay-for-delay” case to go to trial since the Supreme Court articulated a new controlling legal standard in its 2013 decision in FTC v. Actavis. Case settled on favorable terms.
- Secured, on behalf of a public company client, a $100 million settlement in connection with a dispute concerning investments made on its behalf in certain failed auction rate securities
- Secured a jury acquittal for the former CEO of a publicly-traded corporation charged with criminal tax evasion arising from an options backdating investigation.
- Served as counsel for a pharmaceutical company in a securities class action alleging that our client and certain of its officers and directors violated Rule 10(b)-5 in connection with the alleged failure to disclose clinical trial results for a product being developed by the company. Case dismissed without prejudice.
- Represented a public company defendant in a four-week jury trial that successfully defeated a $30 million punitive damages claim brought in the Business Litigation Session of the Massachusetts Superior Court.
- Obtained a defense verdict on all claims after a jury trial on behalf of several public company officers and directors in a securities fraud case in federal court in Massachusetts.
- Represented the CEO of a global media company in shareholder litigation, consolidated in the Delaware Court of Chancery, pertaining to a "going private" transaction. Achieved settlement on very favorable terms for the client.
- Secured a complete motion to dismiss in a securities class action case on behalf of a large multinational operator of membership warehouse clubs, and its former executives. The case, brought in the Southern District of California, centered on allegations that the company misled the public about its performance, among other missteps.
Recognition & Awards
- Benchmark Litigation: Litigation Star (2020 – 2022)
- Massachusetts Super Lawyers: Rising Star – Securities Litigation (2005 – 2009)
- Benchmark Litigation: Future Stars (2009)
- Greater Boston Chamber of Commerce: Boston's Future Leaders (2009)
Involvement
- Co-Chair of Securities Enforcement and Civil Litigation Subcommittee, Boston Bar Association
- Past advisor, Harvard Law School Trial Advocacy Workshop
- Member, American Bar Association
- Member, Massachusetts Bar Association
- Member, Boston Bar Association
- Corporate member (since 1999), Greater Boston Legal Services
- Board member, Jewish Family Service of Metrowest
- Board member, Framingham Historical Society and Museum
Recent Insights
Viewpoints
How a Prior DOJ Settlement Doomed a SEC Enforcement Action: A Volkswagen Case Study
September 10, 2020 |Blog
News & Press
Events
Please join Mintz for a lunchtime webinar as we explore the rising risk of litigation and regulatory enforcement facing SPACs and the individuals that lead them.
A panel of Mintz attorneys discuss practical considerations and best practices for companies navigating internal whistleblower complaints, policy implementation considerations, and how to respond to and manage investigations initiated by regulators.
Viewpoints
Webinar Recording: When the Dust Settles: A Closer Look at the SPAC Boom and Potential Litigation to Follow
June 7, 2021 | Webinar | By Adam Sisitsky, Nancy Adams, John Sylvia
Mintz Members Adam Sisitsky, Nancy Adams, Jack Sylvia and Of Counsel, Kristen White discuss the rising risk of litigation and regulatory enforcement facing SPACs and the individuals that lead them. Topics will included the current SPAC litigation landscape, SPAC M&A–related litigation, including disclosure issues and breach of fiduciary duty in the de-SPAC process, D&O coverage challenges and risk mitigation and heightened SEC scrutiny.
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Two Isn’t Always Better Than One: SDNY Denies Class Certification Where Lead Plaintiff Hired Two Firms
October 21, 2020 | Blog | By Ellen Shapiro
In a scathing decision by the United States District Court for the Southern District of New York, the Court denied class certification of the Allergan securities class action (“Allergan”). See In re Allergan PLC Sec. Litig., 2020 U.S. Dist. LEXIS 179371 (S.D.N.Y Sept. 29, 2020).
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How a Prior DOJ Settlement Doomed a SEC Enforcement Action: A Volkswagen Case Study
September 10, 2020 | Blog | By Ellen Shapiro
The August 20, 2020 decision in In re: Volkswagen “Clean Diesel” Mktg., Sales Practices, and Prods. Liab. Litig., MDL No. 2672 CRB (JSC) by the United States District Court for the Northern District of California (“the Opinion”), dismissing a significant portion of the SEC’s federal securities claims against Volkswagen as having been previously released by the DOJ, serves as an important reminder for why such coordination is important and how defendants may take advantage of the failure to coordinate, as did Volkswagen.
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SEC Whistleblower Complaints Swell to a Flood: How to Find the High Ground of Sound Compliance
June 9, 2020 | Alert | By Adam Sisitsky, Megan Gates
This article lists five best practices that employers can adopt to improve their compliance efforts and reduce the risk of a substantiated SEC whistleblower complaint.
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Issuers Face Changing Litigation Landscape, Challenges Due to Supreme Court Ruling
March 22, 2018 | Alert | By Adam Sisitsky, John Sylvia
In a boon for public company shareholder plaintiffs this week, the U.S. Supreme Court upheld state courts’ concurrent jurisdiction over securities class actions alleging violations of certain federal securities laws.
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“The cold never bothered me anyway!” SEC again uses its power to freeze an alleged EB-5 scam
October 11, 2017 | Blog | By Adam Sisitsky, Douglas Hauer
Like Elsa, the Princess in Disney’s classic Frozen, once again the Securities and Exchange Commission (SEC) has utilized its power to freeze.
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Securities Law Risk Mitigation in EB-5 Offerings
December 1, 2015 | Blog | By Douglas Hauer, Adam Sisitsky
EB-5 regional centers and issuers take heed. The Securities and Exchange Commission ("SEC") is pursuing litigation against parties in several EB-5 deals.
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Borrowers in EB-5 Deals Not Insulated from Securities Litigation by the SEC
December 1, 2015 | Blog | By Douglas Hauer, Adam Sisitsky
While issuers and regional centers are the focus of EB-5 litigation right now and into the foreseeable future, if you are taking direct proceeds as a borrower in a transaction facilitated by an EB-5 regional center or issuer you need to have legal advice on the scope of your liability in a deal.
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Limiting Securities Litigation Risks in EB-5 Offerings: What Regional Centers and Issuers Need to Know
November 29, 2015 | Advisory | By Douglas Hauer, Adam Sisitsky, Francis Earley
The flurry of federal suits filed by the U.S. Securities and Exchange Commission (SEC) in the past few months against several companies and individuals for alleged fraud and false statements in soliciting foreign investors under the EB-5 Immigrant Investor Program shows that the government is taking a tougher approach to enforcement in the EB-5 space.
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SEC freezes assets of EB-5 Asset Manager LLC and Alleged Fraudster Lin Zhong
November 20, 2015 | Blog | By Adam Sisitsky, Douglas Hauer
For alleged EB-5 fraudster Lin Zhong there is a cold winter ahead. A deep freeze. As we expected when news of the case recently broke, the Securities and Exchange Commission (SEC) obtained a court order freezing Zhong’s assets as well as those of her company EB-5 Asset Manager LLC.
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News & Press
Mintz Litigators Highly Regarded by Benchmark Litigation 2020
October 02, 2019
INSIGHT: Climate Change Based Securities Litigation: A Reminder of Risks to Executives in PSLRA Cases
September 14, 2018
This column discusses a recent securities class action decision – the first-ever concerning climate change-related allegations. The column is authored by Members and Co-Chairs of the Securities Litigation Practice Adam Sisitsky and Jack Sylvia and Attorney Rebecca Zeidel.
Mintz Advises Peak Resorts in Securing Key Regional Center Designation for EB-5 Program Participation
December 05, 2017
Mintz secured United States Citizenship and Immigration Services’ approval for Peak Resorts, Inc.’s application for the company’s proposed Great North Regional Center.
Business Torts in Massachusetts
August 8, 2017
Mintz Members Peter Saparoff and Adam Sisitsky, and Associate Joel Rothman co-authored the book Business Torts in Massachusetts, which provides a comprehensive and practical guide for business counsel and litigators on the wide range of "business torts" actions.
Trump Names Acting SEC Chair; New Rules Likely on Hiatus
January 27, 2017
This Ignites feature article discusses President Trump’s naming of the acting U.S. Securities and Exchange Commission Chair and what the move means in regards to recently imposed rules.
Mintz Member Adam L. Sisitsky Named Co-Chair of Firm’s Securities Litigation Practice
September 12, 2016
Mintz has named Adam L. Sisitsky Co-Chair of the firm’s Securities Litigation Practice. Mr. Sisitsky will serve along with current Co-Chair, John F. Sylvia.
Negative Assurance Letters in EB-5 Offerings
February 11, 2016
Mintz Members Doug Hauer, Adam Sisitsky, and Larry Schoen authored this EB-5 Regional Center Business Journal column. The authors note with increased scrutiny of the program, they expect increased attention to securities compliance and litigation risk mitigation throughout the EB-5 industry.
Events
Moderator
Jun
3
2021
When the Dust Settles: A Closer Look at The SPAC Boom and Potential Litigation to Follow
Mintz
Webinar
Moderator